Amgen Net Drops, But Adjusted Earnings Beat Views

Amgen Inc. said late Monday that third-quarter net income was $1.24 billion, or $1.61 a share, compared with $1.37 billion, or $1.79 a share, for the same period a year ago. Revenue for the Thousand Oaks, Calif.-based biotechnology giant was $5.03 billion vs. last year's $4.75 billion. Adjusted earnings were $2.30 a share, beating estimates of $2.11 from analysts polled by FactSet. The company said it expects earnings of $8.45 to $8.55 a share for the full year, ahead of the FactSet projection of $8.40 a share. Shares ended the regular session at an all-time closing high of $148.20 and climbed to $149.40 in after-hours trading.

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